Fords and further education

We all know, or think we do, how incomes policy effects us. At each new settlement we are better off, but in real terms worse off — both absolutely and by comparison with our neighbours. All the polls show that most people support a firm incomes policy — for others at least; they would of course like to do just that little bit better themselves. Equally no sane man believes the level of settlements does not have some effect on prices, although there may be rational dispute about the exact proportion of inflation which is to be attributed to each of its several causes. But there is less understanding of some of the odd side‐effects of high wage settlements, especially when the Government has made the fight against inflation its highest priority.